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Nov 30, 2019
11/19
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the indian ride hailing company backed by softbank says it has already served millions of customers in other u.k. cities since last year. to discuss the competition, i spoke to i spoke to two guests. >> there have been a number of issues over the years with transport for london. the most serious is the impersonation of drivers by about 15,000. so they don't have security in place to verify driver is who they say they are. they were asked to use facial recognition technology. they did not implement it in the timeframe they were supposed to and have once again have their licenses suspended. they are going to appeal that and i imagine it will go through the courts. the real question is how soon will this actually take affect on the streets. taylor: i want to pose the same question to you about how long it will take to impact the company's fundamentals. >> that all depends on what happens in the courts. in the near-term, they should be kind of operating business as usual as it goes through the appeal process. if they actually lose a license, you will see a real impact to revenue. we estima
the indian ride hailing company backed by softbank says it has already served millions of customers in other u.k. cities since last year. to discuss the competition, i spoke to i spoke to two guests. >> there have been a number of issues over the years with transport for london. the most serious is the impersonation of drivers by about 15,000. so they don't have security in place to verify driver is who they say they are. they were asked to use facial recognition technology. they did not...
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Nov 27, 2019
11/19
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a softbank backed startup raised $80 million in new funding. the ai analytics customer company tries to predict user behavior to help clients and advertisers. it raised $162 million in funding to date from investors, including sequoia capital and softbank. one company will raise $1 million for start of investment funds. the venture will target startups from southeast asia to india to health and strength in its foothold in fast-growing mobile and internet markets. the fund will focus on payment and online finance. those are the top global tech stories we are watching. paul: let's turn our attention to asia's most valuable corporation, alibaba. the chinese e-commerce giant pulled off the biggest share sale in hong kong in nearly a decade, raising $11 billion. alibaba plans to use the funds to drive user engagements, improve operational efficiency and pay for continued innovation. joining us from hong kong with more details, we have bloomberg's own sophie kamaruddin. you were on the hong kong exchange on tuesday. we saw alibaba shares rising. how
a softbank backed startup raised $80 million in new funding. the ai analytics customer company tries to predict user behavior to help clients and advertisers. it raised $162 million in funding to date from investors, including sequoia capital and softbank. one company will raise $1 million for start of investment funds. the venture will target startups from southeast asia to india to health and strength in its foothold in fast-growing mobile and internet markets. the fund will focus on payment...
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Nov 27, 2019
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. ♪ yvonne: softbank is under more scrutiny over it start up investments. announced shes was leaving the company. timeoined around the same that softbank invested $300 million in the start up. wag has been exploring a sale that would likely reach less than that according to people close to the move. about $1 billion being raised to invest in startups in southeast asia and india. they will focus on the online finance world to strengthen their position in mobile internet markets. they already holds stakes and have invested in 160 companies over the past five years. one of china's biggest drinks companies is weighing a hong kong ipo that could raise $1 billion u.s. dollars. it is working with financial advisors for the potential share sale and the offering could happen as soon as the first half of next year. they make bottled water, juices ,tea, and soft drinks. last year, they scrapped a decade-long plan for an asia listing in china. rishaad: xiaomi is set to report earnings after the bell. the smartphone maker may have missed sales estimates. david: yes, and
. ♪ yvonne: softbank is under more scrutiny over it start up investments. announced shes was leaving the company. timeoined around the same that softbank invested $300 million in the start up. wag has been exploring a sale that would likely reach less than that according to people close to the move. about $1 billion being raised to invest in startups in southeast asia and india. they will focus on the online finance world to strengthen their position in mobile internet markets. they already...
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Nov 26, 2019
11/19
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how does softbank bank those gains? you have been concerns a fund of that size, a $100 billion investment fund, is bound to draw out valuations. we have seen anecdotes trickle out of founders speaking to $100 million and walking out with $1 billion. we have plenty of deals to look at. we look at notable investments like oil, doordash, and seen a pattern of steep valuation gains every time softbank took part in the rent. of course, there is no smoking gun. in softbank's defense, they were investing on the side of very andied terms like sequoia corporates like toyota. the scale at which they operate -- they have 88 companies on their portfolio, many of them are unicorns. they have to reevaluate the revaluations of them every quarter. the process follows the accounting rules, but it is a complete black box. you have these valuation rounds. for comes out is profit softbank's balance sheet. shery: as you say, this is because we are trying to value these yous. is it -- value these unicorns. is it a problem of softbank, or are
how does softbank bank those gains? you have been concerns a fund of that size, a $100 billion investment fund, is bound to draw out valuations. we have seen anecdotes trickle out of founders speaking to $100 million and walking out with $1 billion. we have plenty of deals to look at. we look at notable investments like oil, doordash, and seen a pattern of steep valuation gains every time softbank took part in the rent. of course, there is no smoking gun. in softbank's defense, they were...
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Nov 26, 2019
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softbank investing at a $30 billion valuation. to other time it has evaluate a company is every quarter, when it is trying to deliver its quarterly financial results. those are the results that draw a little bit less scrutiny but perhaps have the bigger impact on the company. amanda: let's talk about -- obviously, softbank has heard from some of its investors. is the concern not that it had a big blowup, which it did. that happens in venture. is the concern that it goes into a more systemic practice, that it has a problem with its valuation that investors are now worried about? >> when you see one flame out like that, you have to wonder how they are valuing the other late stage startups on their books. it is a great question. valued in very different ways, a lot of different factors that go into it. maybe it is overvaluing some of the other startups. maybe it is undervaluing some of them. who knows? it is more art than science. , it a lot of venture firms is running into difficulties. shery: to your point, is this ofe of an issue
softbank investing at a $30 billion valuation. to other time it has evaluate a company is every quarter, when it is trying to deliver its quarterly financial results. those are the results that draw a little bit less scrutiny but perhaps have the bigger impact on the company. amanda: let's talk about -- obviously, softbank has heard from some of its investors. is the concern not that it had a big blowup, which it did. that happens in venture. is the concern that it goes into a more systemic...
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Nov 26, 2019
11/19
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softbank is launching $3 billion tinder for troubled we work according to sources, the offer is set to expire on april 1. this comes as wework announced last week it was laying off 2,400 employees around the world. that is about 20% of its workforce. tencent is increasing its bid on argentina's mobile payment app. the chinese internet giant is leading 150 million series c funding with plans to use the funds to triple its team to over 500 employees by the end of next year. it will also expand its loan products and expand new business units. soft bank is also involved in the funding rounds. and britain's top phone company is looking to reduce its reliance. on huawei. they are connecting millions of homes to optic fiber. huawei which has been cited as a security risk by the u.s. government has a share in microcomponents. those are the top global stories we are watching, sherry. shery: trying to take black friday global, it might be with the new deal with china's number three online retailer, amazon just opened a storefront and starting on thanksgiving will launch a sales campaign to offer
softbank is launching $3 billion tinder for troubled we work according to sources, the offer is set to expire on april 1. this comes as wework announced last week it was laying off 2,400 employees around the world. that is about 20% of its workforce. tencent is increasing its bid on argentina's mobile payment app. the chinese internet giant is leading 150 million series c funding with plans to use the funds to triple its team to over 500 employees by the end of next year. it will also expand...
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Nov 25, 2019
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aboutal users reading softbank which lodged a tender office -- tender offer for shares of the we company. it was five business days after an accelerated $1.5 billion equity adjustment -- equity injection. according to people familiar with the offer, it expires on april 1. bloomberg.com has a story on the downside of diversity. an analysis of years of market returns finds that when they avoided female directors, they -- when they appointed female directors, they experienced stock decline. academics have found mixed results as to whether any direct link between diversity and company performance actually exists. tictoc on twitter has reported that u.s. scientists are reporting pet dogs. the study will collect records, dna samples, gut microbes, and information on food and walks. dogs will also test a pill that could slow the aging process. it could shed light on human longevity and answer the question of who really is a good boy. all of these under terminal, bloomberg.com, and at tictoc on twitter. he ist: adam schiff says not waiting for the white house. the chairman explaining his next st
aboutal users reading softbank which lodged a tender office -- tender offer for shares of the we company. it was five business days after an accelerated $1.5 billion equity adjustment -- equity injection. according to people familiar with the offer, it expires on april 1. bloomberg.com has a story on the downside of diversity. an analysis of years of market returns finds that when they avoided female directors, they -- when they appointed female directors, they experienced stock decline....
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Nov 24, 2019
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paul: softbank is said to be pursuing its offer for wework including almost $1 billion of shares owned by the startup's founder. the coming days will bring bids for as much as $3 billion. shares are based on the already announced terms of $19 apiece. there have been no talks about changing the terms of the offer. sophie: pressure continues to build on westpac with a potential investigation are the banking regulators that would have the power to disqualify directors and executives. westpac is accused of widespread breaches of money laundering and terrorism finance laws, and failing to spot transactions linked to child abuse. they expect more than $50 million u.s. with costs associated with the investigation. now, to a bloomberg scoop carl icahn said to be moving to seize control of u.s. oil and gas producer occidental. su joins us with more. su: billionaire investor icahn going to shake things up for sure. he is attempting to seek control of occidental's board according to people close to the matter, by nominating a slate of 10 directors. the billionaire investor owns a stake and plans
paul: softbank is said to be pursuing its offer for wework including almost $1 billion of shares owned by the startup's founder. the coming days will bring bids for as much as $3 billion. shares are based on the already announced terms of $19 apiece. there have been no talks about changing the terms of the offer. sophie: pressure continues to build on westpac with a potential investigation are the banking regulators that would have the power to disqualify directors and executives. westpac is...
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Nov 24, 2019
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pitched this as the anti-wework and don't want to be this crazy, you know, massive $100 billion overnight softbank investment. they want to be the mature step by step incremental growth company. carol: and i feel like that speaks to who these two guys are. you get into a little bit of how they managed this company, their approach. >> they're very -- if you spend time with neil and dave they're very precise. they're as precise as the prescriptions in their glasses. they really have this attention to detail. they're not, you know, the adam newman type characters that are going to sort of brag about tomorrow we're going to triple the size of this, and one of the guys said we're comfortable launching 33 stores this year, 40 next year, 45 the year after that. this is not we're going to launch 500 stores tomorrow. jason: and also interesting to think about this business, especially this expansion into contacts and eye exams. and you alluded to this earlier, austin. is that people-intense he have business. and in addition to the manufacturing, they're doing, you know, these are big jocks. a lot of jobs i
pitched this as the anti-wework and don't want to be this crazy, you know, massive $100 billion overnight softbank investment. they want to be the mature step by step incremental growth company. carol: and i feel like that speaks to who these two guys are. you get into a little bit of how they managed this company, their approach. >> they're very -- if you spend time with neil and dave they're very precise. they're as precise as the prescriptions in their glasses. they really have this...
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Nov 23, 2019
11/19
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i do not know the specifics of the plan my sense is that there so much focus within softbank and we work to get there, they will find a way to get there. it may include shuttering office space. i suspect they will find a way to get there at the cost of topline growth. >> hands down, my favorite part of our friday is our week in review. thank you. coming up, tesla's breaking news. how investors are reacting after the shatterproof armor demo did not go as planned. this is bloomberg. ♪ taylor: since disney's successful launch of its streaming service next week, much has been made over exactly how it will affect the competition. now we are getting an idea from netflix. internal data at netflix suggests users are not fleeing to disney plus. according to an unidentified person at the company, because of proprietary information, netflix subscriber cancellations have not accelerated recently. last week disney signed up 10 million subsccribers in one day. now back to our top story. elon musk probably would have liked to have a do over. he unveiled tesla's long-awaited electric pickup truck last
i do not know the specifics of the plan my sense is that there so much focus within softbank and we work to get there, they will find a way to get there. it may include shuttering office space. i suspect they will find a way to get there at the cost of topline growth. >> hands down, my favorite part of our friday is our week in review. thank you. coming up, tesla's breaking news. how investors are reacting after the shatterproof armor demo did not go as planned. this is bloomberg. ♪...
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Nov 22, 2019
11/19
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moved in twolly guys from softbank, as well as promoting a guy from goldman sachs. to: do they have enough cash execute this plan? in terms of investment needed, do they believe the amount of money they currently have will get them there? >> all guns are blazing. the company seems to be in fine financial shape. we reported 2400 staff are being let go globally. forward, i guess we will see what happens. we reported yesterday that there in softbank about an offer that is meant to becoming any time now. jillian, what is the exit plan? this is a five-year plan, which means a pretty long runway for a company. what do the executives have in mind? >> today the executive chairman talked about trying to be positive by 2021. that is a big clarification. i think they can look to going public again. the fact is, the bond was severely under pressure. how much is the market buying that they can make the turnaround work and continue with what is a pretty painful firing situation? bondholders, the bonds are trading about $.70 on the dollar at the moment. very much distressed territ
moved in twolly guys from softbank, as well as promoting a guy from goldman sachs. to: do they have enough cash execute this plan? in terms of investment needed, do they believe the amount of money they currently have will get them there? >> all guns are blazing. the company seems to be in fine financial shape. we reported 2400 staff are being let go globally. forward, i guess we will see what happens. we reported yesterday that there in softbank about an offer that is meant to becoming...
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Nov 22, 2019
11/19
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softbank is looking for a way to reduce the size of a 3 billion-dollar offer for we work. that was part of its -- for we work stock. the move would be designed to limit the amount paid to wework co-founder adam neumann. employees were outraged with the deal given to adam neumann. elon musk would probably like to do over. he unveiled tesla's long-awaited electric pickup truck but it did not go as planned. two of the trucks armored windows were shattered. you can see it right there. for a while, the truck was the number two trending topic. truck starts at just under $40,000. i am viviana hurtado and that is your bloomberg business flash. time for bottom line. alix: we will take a look at companies worth watching this morning. art hogan of national securities and sarah hunt of alpine woods. would you buy that car? sarah: that is not a car for me. art: we can all -- alix: we can all agree on set that is the case. it does show a push into a super competitive market. if you are a truck buyer, you are super loyal. what is your take on that? you have had such a pull forward in dem
softbank is looking for a way to reduce the size of a 3 billion-dollar offer for we work. that was part of its -- for we work stock. the move would be designed to limit the amount paid to wework co-founder adam neumann. employees were outraged with the deal given to adam neumann. elon musk would probably like to do over. he unveiled tesla's long-awaited electric pickup truck but it did not go as planned. two of the trucks armored windows were shattered. you can see it right there. for a while,...
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Nov 22, 2019
11/19
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this comes at softbank is reducing -- looking at reducing the size. of its rescue package it wants to shrink the $3 billion offer. that includes limiting the amount paid to adam neumann. travis kalanick's november selling spree has reached almost $1.5 billion. the uber co-founder sold over half a billion of stock over three days this week. it extends a series of sales since the lockup ended earlier this month. more disposals may be coming, signaling he could offload his entire stake. saudi aramco has raised $19.5 billion in the first five days of its offering period. the figures suggest that institutional portion of the deal is already 90% covered. the retail crunch is about 46% covered. that is your bloomberg business flash. much. thank you so let's turn to georgia, a country on the crossroads between east and west and a key trade route for some of the world's biggest economies. the former soviet nation has aspirations to join the european union and is currently has an association agreement with the bloc. it has fostered close relations with china, h
this comes at softbank is reducing -- looking at reducing the size. of its rescue package it wants to shrink the $3 billion offer. that includes limiting the amount paid to adam neumann. travis kalanick's november selling spree has reached almost $1.5 billion. the uber co-founder sold over half a billion of stock over three days this week. it extends a series of sales since the lockup ended earlier this month. more disposals may be coming, signaling he could offload his entire stake. saudi...
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Nov 22, 2019
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they scrapped an ipo and needed a bailout from softbank stay afloat. coming up, switching gears. google has been on the clinical -- gets in on the political debate. we will break down how they are prepping for the 2020 election, next. and if you like bloomberg news, check us out on the radio. listen on the bloomberg app, bloomberg.com, and in the u.s. on sirius xm. this is bloomberg. ♪ taylor: twitter is taking steps \taylor: twitter is taking steps to improve the health of discussions and interactions on the service. the social media platform will start letting all users revise the tweets they sent. it provides a degree of control which could keep spammers away. it could also hide hateful or inappropriate replies. however, the hidden replies can be revealed by clicking a button. sticking with social media, google is jumping into the online political ad debate. google is limiting how political advertisers can target people online. it will no longer allow election ads to be targeted based on political affiliation on google search, youtube, and across the web. google is also rest
they scrapped an ipo and needed a bailout from softbank stay afloat. coming up, switching gears. google has been on the clinical -- gets in on the political debate. we will break down how they are prepping for the 2020 election, next. and if you like bloomberg news, check us out on the radio. listen on the bloomberg app, bloomberg.com, and in the u.s. on sirius xm. this is bloomberg. ♪ taylor: twitter is taking steps \taylor: twitter is taking steps to improve the health of discussions and...
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Nov 22, 2019
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haslinda: softbank is a backer. have you had any instruction or encouragement from softbank for you to tighten your belt or cut down on the kind of discounts the company has been giving? >> softbank is not an investor. they are investor in many other continents -- companies in the region. we are not one of them. we have been very happy with our investor space. set of a smaller investors that trust in the company and management and look at us in long-term weight. -- in a long-term way. haslinda: we have to leave it there. lots more to come from the new economy forum that is happening here in beijing. later today from the new economy forum, an interview with stephen king, economic advisor. ♪ sinks someian stocks modest gains, investors are waiting for further details on the u.s.-china trade discussions. >> we should pursue common comprehensive cooperative and sustainable security and reject zero-sum game and cold war mentality. >> nobody wants to fight the country that has won the war and there is a new world order.
haslinda: softbank is a backer. have you had any instruction or encouragement from softbank for you to tighten your belt or cut down on the kind of discounts the company has been giving? >> softbank is not an investor. they are investor in many other continents -- companies in the region. we are not one of them. we have been very happy with our investor space. set of a smaller investors that trust in the company and management and look at us in long-term weight. -- in a long-term way....
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Nov 21, 2019
11/19
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watchinglso be softbank on a bloomberg report. it is looking to reduce the size of its tender offer for wework. off in the asia session and we are seeing little change after a three-day drop, this after the s&p fell for a third session. treasury futures trust holding steady after cash yields rose overnight, prompting the longest stretch of flattening in the year, which cast out on 2019's bet for a steeper curve -- which cast doubt. checking in on aussie bonds, extending thursday's decline but -- but headed for a second weekly gain and offshore yuan holding steady at a 703 level after reaching 705 on thursday. sophie was mentioning markets still digesting mixed signals from beijing and washington is talk into this crucial stage. china remaining cautiously optimistic on the deal and inviting u.s. officials to further talks. the situation complicated and that bill supporting protesters in hong kong. saying this time last year, we were talking about trade, conversations it dominated by trade. he hong kong aspect seems like something t
watchinglso be softbank on a bloomberg report. it is looking to reduce the size of its tender offer for wework. off in the asia session and we are seeing little change after a three-day drop, this after the s&p fell for a third session. treasury futures trust holding steady after cash yields rose overnight, prompting the longest stretch of flattening in the year, which cast out on 2019's bet for a steeper curve -- which cast doubt. checking in on aussie bonds, extending thursday's decline...
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Nov 21, 2019
11/19
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softbank is said to be in talks to receive as much as $2.8 billion in financing. companies ready to provide loans as part of the regular financing. is nikkei news said softbank paving the way for its $3 billion offer to we work shareholders. the prime minister scott morrison said should deeply reflect the ceos future after he declined to resign with the bank accused of the biggest breach of roles in history. reached money laundering. more than 23 million times failed to detect payments. president trump says he's considering offering apple an invention from paris on goods imported from china, touring an apple facility with the ceo. he said it isn't fair for apple to be taxed and vices made in china, given samsung doesn't have to pay similar duties. iphones, and laptops from december 15. >> we are looking at that. company, aat competitor of apple. it is not fair, because we have a great deal. we made a great deal. apple with aeat similar basis as we treat samsung. let's have a look at the stock of the hour. this is a market mover. down at the moment. just over 5% in
softbank is said to be in talks to receive as much as $2.8 billion in financing. companies ready to provide loans as part of the regular financing. is nikkei news said softbank paving the way for its $3 billion offer to we work shareholders. the prime minister scott morrison said should deeply reflect the ceos future after he declined to resign with the bank accused of the biggest breach of roles in history. reached money laundering. more than 23 million times failed to detect payments....
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Nov 21, 2019
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we are hearing that softbank is seeking $2.3 billion in financing from banks. loans are said to be part of the company's regular financing. the nikkei also reporting earlier that softbank is raising money to pay for a $3 billion tender offer. they will pay for that share with that. >> we are live in beijing, this is bloomberg. ♪ >> this is daybreak asia. the new economy forum in beijing. >> let's go to the first word news. >> policymakers are elevated risks to the economy even as they agreed to keep interest rates on hold after a third cut this year. weakening global trade was a concern and slowdown was weighing on the the rest economy. until theree a halt is any material change in the other. signs of a recovery in singapore where the economy expanded at a faster pace in the third quarter than earlier estimated. the final gdp reading showed growth of 1.2% from the previous three months. much better than an earlier projection of 0.6%. the central bank says the policy is appropriate to the moment but it may change as the economy evolves. shownkorean exports hav
we are hearing that softbank is seeking $2.3 billion in financing from banks. loans are said to be part of the company's regular financing. the nikkei also reporting earlier that softbank is raising money to pay for a $3 billion tender offer. they will pay for that share with that. >> we are live in beijing, this is bloomberg. ♪ >> this is daybreak asia. the new economy forum in beijing. >> let's go to the first word news. >> policymakers are elevated risks to the...
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Nov 20, 2019
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like silicon valley loves it, not to mention bloomberg points out it is an interesting way that the softbank model has been working people haveso many thrown so much money at the company, and now it has 35% of market share in that industry. alix: ok, fair. i'm still a little skeptical. let's go to the battle between private equity/blackstone and elizabeth warren. totally fascinating to me. it started yesterday with blaming blackstone for profiting off of the housing crisis. interesting to me because blackstone fought back. most people kind of let warren do her thing. but blackstone said, listen. warren said they shamelessly profited from the wake of the crisis, but blackstone said the $10 billion stabilized that market. it was a really interesting day. maxine waters actually had nothing to do with the single-family homes. she said the toys "r" us example was the poster child of the private equity debacle. remember, 33,000 people in that case were left without severance pay, and workers have been in washington for months, and kkr and bain eventually put $20 million toward a fund. alix: it doe
like silicon valley loves it, not to mention bloomberg points out it is an interesting way that the softbank model has been working people haveso many thrown so much money at the company, and now it has 35% of market share in that industry. alix: ok, fair. i'm still a little skeptical. let's go to the battle between private equity/blackstone and elizabeth warren. totally fascinating to me. it started yesterday with blaming blackstone for profiting off of the housing crisis. interesting to me...
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Nov 19, 2019
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taylor: how much is softbank a threat, seeing how overvalued companies like wework became? do you fear that comes into your area as well? ed: there is always a risk of companies being over capitalized. i was on your show in august talking about money is not the answer to winning. you still have to build a solid business, have a balanced growth versus growth at all costs. i think with wework and consumer type companies you won't see , that in the enterprise space. i think most enterprise advisors are more practical. it's hard to just turn on the spigot and spend money and grow. there is lag time of selling into these large enterprises. taylor: boldstart ventures partner ed sim, thank you for joining us. coming up, apple's latest iphone is scoring early success in the second largest market, china. why shipment growth is up while trade tensions between the countries -- amidst trade tensions between the countries. that is next. ♪ taylor: this is "bloomberg technology" global link where we join daybreak australia to bring you the latest in global news. paul allen is in sydney
taylor: how much is softbank a threat, seeing how overvalued companies like wework became? do you fear that comes into your area as well? ed: there is always a risk of companies being over capitalized. i was on your show in august talking about money is not the answer to winning. you still have to build a solid business, have a balanced growth versus growth at all costs. i think with wework and consumer type companies you won't see , that in the enterprise space. i think most enterprise...
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Nov 18, 2019
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taylor: i am going to start here with softbank. they're going to create japanese net giant to battle rivals like google and amazon. they're going to combine with messaging service, line. that will be a venture in a deal that will not close until october. it is driven by sense of prices, that global giants are increasing their hold on the tech industry. t-mobile ceo john leger is stepping down. rebel will leave april 30. he will stay on the board. it is a long planned transition. the new t-mobile chief executive and chief operating officer will be mike seeger. has rejected a takeover offer from xerox. the company says the bid is too low. plus, it raises questions about xerox in the printing industry. hp says it is open to exploring a merger, but there are fundamental questions that need to be answered. tope are a look at the global tech stories. chinese consumers are rediscovering their appetite for iphones. bloomberg crunched the numbers and found that apple shipped 10 million iphones in china during september and october. that was
taylor: i am going to start here with softbank. they're going to create japanese net giant to battle rivals like google and amazon. they're going to combine with messaging service, line. that will be a venture in a deal that will not close until october. it is driven by sense of prices, that global giants are increasing their hold on the tech industry. t-mobile ceo john leger is stepping down. rebel will leave april 30. he will stay on the board. it is a long planned transition. the new...
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Nov 18, 2019
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me is sonali explain this to billion dollar softbank second fund. that is not totally what they will raise, right? they wouldtbank said put billions of their own money into this as well. let me put $2 billion into perspective. not only did they raise $100 billion for their first font, you have kkr raising $2 billion. you have tiger global targeting almost $4 billion. $2 billion at the low end compared to all of the other private equity firms targeting the same arena overall is not a lot to work with. alix: especially when there are out that in china, funds are pulling back but not investing. the pie is smaller for them to buy stuff. is a hope that the valuation story would change in silicon valley, but it shows you there is still a lot of money pouring into silicon valley and a lot of people playing in the market with a lot less to work with. the market is a lot less hot than it was. alix: can they get to $100 billion? sonali: $2 billion to 100 is a go. way to we will see how far they get. they said they do not know what they will do. unclear what s
me is sonali explain this to billion dollar softbank second fund. that is not totally what they will raise, right? they wouldtbank said put billions of their own money into this as well. let me put $2 billion into perspective. not only did they raise $100 billion for their first font, you have kkr raising $2 billion. you have tiger global targeting almost $4 billion. $2 billion at the low end compared to all of the other private equity firms targeting the same arena overall is not a lot to work...
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Nov 18, 2019
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softbank planning to combine its japanese internet business with a possible -- shape popular -- with a popular messaging service. take them through an estimated $14 a share, then the former yahoo! japan will merge with the company in october next year. boeing is admitting they will have to work hard to regain trust with the grounded 737 max 8. ceo said boeing is dedicated to safety and integrity, and it is going to restore confidence. the plane has been grounded since two creches.ha -- two crashes. lowerpower unit could emissions and help airbus launch upgraded competitions to the dreamliner. design be based on a similar to the triple seven at -- the 777x. time for the stock of the hour. you are looking at shipbuilding. tell us why. juliette: it is leading gains on the index in singapore, jumping the most in two months. this is after we heard a bt is safehat the chairman and will return soon after being on leave for more than three months to assist in a confidential probe in beijing, according to the business times report. pricee seen the share jump as much as 9% today, currently up
softbank planning to combine its japanese internet business with a possible -- shape popular -- with a popular messaging service. take them through an estimated $14 a share, then the former yahoo! japan will merge with the company in october next year. boeing is admitting they will have to work hard to regain trust with the grounded 737 max 8. ceo said boeing is dedicated to safety and integrity, and it is going to restore confidence. the plane has been grounded since two creches.ha -- two...
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Nov 17, 2019
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softbank wants to combine its business, z holdings, with line. aim is for the merger to be done in october, 2020. the offer is still under discussion with the final deal being signed in december. keep in mind today shares are atpended and will resume 5:00 p.m. local time. paul: coming up, more unrest in hong kong. we speak to the head of hong kong police intelligence. and we have the market open in japan and south korea up next. stay with us. this is bloomberg. ♪ beyond the routine checkups. beyond the not-so-routine cases. comcast business is helping doctors provide care in whole new ways. all working with a new generation of technologies powered by our gig-speed network. because beyond technology... there is human ingenuity. every day, comcast business is helping businesses go beyond the expected. to do the extraordinary. take your business beyond. paul: good morning, i am paul allen in sydney. asia's major markets have just opened for trade. shery: in new york, i'm shery ahn. in hong kong. welcome to daybreak asia. ♪ paul: our top stories
softbank wants to combine its business, z holdings, with line. aim is for the merger to be done in october, 2020. the offer is still under discussion with the final deal being signed in december. keep in mind today shares are atpended and will resume 5:00 p.m. local time. paul: coming up, more unrest in hong kong. we speak to the head of hong kong police intelligence. and we have the market open in japan and south korea up next. stay with us. this is bloomberg. ♪ beyond the routine checkups....
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Nov 17, 2019
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they both have very strong ties to softbank, which may be the reason his name is in circulation. jason: we also spoke with imran khan, the cofounder and ceo of an e-commerce company, verishop. we talked about the ipl, as well as his outlook for the online shopping market. my cohost, carol massar, and i sat down with him in brooklyn. imran: there is no place for consumers to go find and discover new brands. we are creating a brand discovery platform, where you can find brands for your everyday life with the convenience of amazon. we now have the fastest free online shipping in the marketplace. free one-day shipping. we put our customer support number at the top, so you can talk to our customers. i read every customer support email. so we really stand for convenience, we stand for quality, and discovery. carol: what is to prevent somebody from going to your site, then going to the homesite of that brand in the future? imran: some people will do that. you know. the interesting thing is that consumers don't like putting their credit card number into 500 different sites. right? so if
they both have very strong ties to softbank, which may be the reason his name is in circulation. jason: we also spoke with imran khan, the cofounder and ceo of an e-commerce company, verishop. we talked about the ipl, as well as his outlook for the online shopping market. my cohost, carol massar, and i sat down with him in brooklyn. imran: there is no place for consumers to go find and discover new brands. we are creating a brand discovery platform, where you can find brands for your everyday...
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Nov 16, 2019
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take they were quickly overshadowed by a man who was placed as executive chairman of the company by softbank. you may remember him as the former head of sprint. marcelo is the one who has been sending out memos, saying if you have concerns, talk to me. i am here for you. he has taken internally this public safety role away from the co-ceos, who are still technically there, but do not seem to be running the show. now it seems like the outside ceo search is continuing. this was something we originally had back-and-forth on, whether they would do an outside ceo search. there is a funny twist, which is marcello colore and john legere have a history of going after each other. they didn't always get along and have publicly sparred on twitter. many people were digging up those old tweets on monday when the news was announced. it is unclear if they would be able to work together, but it seems like that is a possibility. that may be the reason his name is in circulation. jason: we also spoke at the cofounder and ceo of e-commerce company berrer shop. they talked about the ipl, as well as his outlook
take they were quickly overshadowed by a man who was placed as executive chairman of the company by softbank. you may remember him as the former head of sprint. marcelo is the one who has been sending out memos, saying if you have concerns, talk to me. i am here for you. he has taken internally this public safety role away from the co-ceos, who are still technically there, but do not seem to be running the show. now it seems like the outside ceo search is continuing. this was something we...
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Nov 15, 2019
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softbank has quietly completed its initial push for its second technology fund. the japanese company has raised roughly $2 billion for the second vision fund so that it can start backing startups. at this stage is known as the first close, and softbank will continue gathering commitments. a spokesman declined to comment. the probe into google's business practices is getting wider. details on what new areas regulators are focusing on will set that's next. this is bloomberg. ♪ taylor: the probe into possible antitrust behavior by google is about to get bigger. multiple u.s. attorneys general are looking into the company's ad business, and they will put the lens to google search and android software. the search into ads. joining us in d.c.'s ben brody, blogging efforts. what do know about the additional probes going on? >> we know the attorneys general divided responsibility for these probes at a meeting early this .eek on monday in denver basically the attorney general wanted to expand some of these. they were staffing questions, so they decided they were going t
softbank has quietly completed its initial push for its second technology fund. the japanese company has raised roughly $2 billion for the second vision fund so that it can start backing startups. at this stage is known as the first close, and softbank will continue gathering commitments. a spokesman declined to comment. the probe into google's business practices is getting wider. details on what new areas regulators are focusing on will set that's next. this is bloomberg. ♪ taylor: the probe...
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Nov 15, 2019
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he has already sold shares to softbank. i don't think it's that surprising. but any selling is negative, even when there is a logic to it. taylor: when do we expect large, institutional, long-term investors to come in and stabilize the stock? eric: i think as long as people are worried that the losses will drag down the top line -- until uber can convince people that it can operate profitably and continue to grow the market, if -- market. if investors are worried that ridesharing is not that much exponentially bigger than the existing transportation, taxi industry. without the subsidies, that's going to worry people. so i think as long as you have the business model risk and coupled with stuff like independent contractors, and softbank's portfolio doing poorly generally, i think people are going to be worried. taylor: "bloomberg technology's" eric newcomer, thank you for joining us. eric: thank you. another big tech late lateday, -- text story thursday, -- tech story late thursday, some of the world's wealthiest investors are moving their money, and that incl
he has already sold shares to softbank. i don't think it's that surprising. but any selling is negative, even when there is a logic to it. taylor: when do we expect large, institutional, long-term investors to come in and stabilize the stock? eric: i think as long as people are worried that the losses will drag down the top line -- until uber can convince people that it can operate profitably and continue to grow the market, if -- market. if investors are worried that ridesharing is not that...
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Nov 15, 2019
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. ♪ rishaad: we have been watching softbank with news yesterday breaking of a possible merger between its for murray dahood japan and z holdings. yvonne: let's get to our bloomberg opinion columnist who says the merger may be the last chance after years of stagnation. whitey think this merger make sense? -- why do you think this merger make sense? >> stagnation is the word for it. they have 164 million users in four core markets. that number has not changed over the last 18 months. they have not tried to grow the user numbers. . if you are not familiar with the wine, it is similar to whatsapp line, it is similar to whatsapp. stickers,o sell you which are advertising and moving into fintech. they have stagnated because make -- because management has gotten lazy in trying to expand overseas to southeast asia. if they are not going to expand, they are not going to keep growing. engagement has dropped off. with a company like this slowly dying, i believe it was inevitable they would have to merge with someone else. yahoo! japan has a future as good as any. rishaad: there has been talk tha
. ♪ rishaad: we have been watching softbank with news yesterday breaking of a possible merger between its for murray dahood japan and z holdings. yvonne: let's get to our bloomberg opinion columnist who says the merger may be the last chance after years of stagnation. whitey think this merger make sense? -- why do you think this merger make sense? >> stagnation is the word for it. they have 164 million users in four core markets. that number has not changed over the last 18 months. they...
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Nov 14, 2019
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sonali: softbank also. do you follow softbank? romaine: she knows everything about softbank. in all seriousness, just jumping on those hot ipo trains, we did see a little bit of that at the little bitq3 was a quieter for ipo's. do we still see that appetite? sonali: we do. this is not a public company, door -dash raised money. you do see a risk appetite, even for softbank, caroline. i would not say people are legally off these -- completely off these ipo's, especially for health care. viking did sell their stake in united health. it is super interesting seeing them leave some big positions when that is a politically charged name. caroline: thank you for giving us your early take. the latestck on headlines for you now. cowboy owner was in talks to buy shell, valued at more than a billion dollars. if oilt not be viable and gas prices stay low. lasts for benefits rose month. it could reflect seasonal adjustment issues. jobless claims hit a 49 year low. that is your is this update. --your business update. joe: chaos in hong kong as anxiety builds over what china will do next. how
sonali: softbank also. do you follow softbank? romaine: she knows everything about softbank. in all seriousness, just jumping on those hot ipo trains, we did see a little bit of that at the little bitq3 was a quieter for ipo's. do we still see that appetite? sonali: we do. this is not a public company, door -dash raised money. you do see a risk appetite, even for softbank, caroline. i would not say people are legally off these -- completely off these ipo's, especially for health care. viking...
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Nov 14, 2019
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romaine: but this is more than just about softbank taking it on, too. they are shouldering a lot of the response bloody off to bondholders, something like $5.5 billion -- of the responsibility off to bondholders, some thing like 5.5 billion dollars. so there is appetite for this. sam: don't confuse appetite with aptitude. alix: basically, there's animal spirits out there, right? or not? leon: there may or may not be. the softbank investment is not totally out there on the marketplace, so time will tell exactly what they have put into the company and how it is going to work, and time will tell point, whatn sam's happens to the cost structure or not. my basic thesis is that the co-working has evolved dramatically over the years, and i think that if you look at corporations, i think there's 30%, 40% of businesses that are going to become more corporate from that standpoint around the world. does that shrink during a recession? who knows? some of these things are unproven right now. but the basis, they seem to be full from that standpoint. there brand is in
romaine: but this is more than just about softbank taking it on, too. they are shouldering a lot of the response bloody off to bondholders, something like $5.5 billion -- of the responsibility off to bondholders, some thing like 5.5 billion dollars. so there is appetite for this. sam: don't confuse appetite with aptitude. alix: basically, there's animal spirits out there, right? or not? leon: there may or may not be. the softbank investment is not totally out there on the marketplace, so time...
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Nov 14, 2019
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taylor: you're a softbank portfolio company. what has it been like working with softbank? john: softbank has been a tremendous partner. there on our board. i would say softbank has been fabulous. they assist me in everything i need and the team in what we need. taylor: after the we work debacle, we saw heightened scrutiny in corporate governance and profitability. how much more pressure has softbank put on you to increase profit and corporate governance since the wework debacle? john: zero. you have to always have a path to profitability. if you don't have that path laid out, it's going to be very difficult. they are supportive of our efforts as we go through that journey, in every regard. taylor: have you given specific timelines on that profitability? john: no, not at all. other than the fact that we have enough cash to get to profitability. so it's not a fundraising issue. we don't have that problem, which is kind of unique for someone like myself coming into a company. very often i have to go raise money as well as operate the company, and that's difficult. in this cas
taylor: you're a softbank portfolio company. what has it been like working with softbank? john: softbank has been a tremendous partner. there on our board. i would say softbank has been fabulous. they assist me in everything i need and the team in what we need. taylor: after the we work debacle, we saw heightened scrutiny in corporate governance and profitability. how much more pressure has softbank put on you to increase profit and corporate governance since the wework debacle? john: zero. you...
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Nov 14, 2019
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the holdings is a softbank internet business. they are in final togs to merge with line -- final togs to merge with line. -- they are in e-commerce giant. messaging app a used in southeast asia. -- aare taking a bake hit big hit. now, over here in the u.s., disney's shares soared to a record high after 10 million fans signed up for its new video streaming service in two days. there were also complaints about glitches. su keenan has more on this. it seemed huge for disney. are,he headlines now disney dazzles, whereas disney plus becomes disney minus. what is fascinating is that ce is at a record pa blistering pace. analysts say they could reach their goal in two years. looking at a 20 year chart, the stock was pushed to an all-time record. many of the rabid fans of disney had the chance to preorder months in advance. --y had that was obscured by all of the glitches. disney has been able to deal with all of the glitches. what we saw earlier in the session was that the shares were down. disney touted its 10 million figure. locale th
the holdings is a softbank internet business. they are in final togs to merge with line -- final togs to merge with line. -- they are in e-commerce giant. messaging app a used in southeast asia. -- aare taking a bake hit big hit. now, over here in the u.s., disney's shares soared to a record high after 10 million fans signed up for its new video streaming service in two days. there were also complaints about glitches. su keenan has more on this. it seemed huge for disney. are,he headlines now...
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Nov 13, 2019
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there were talks about potentially merging with softbank. that said, it is easier said than done. people have been waiting for m&a in europe for a long time. it is really hard to merge these banks. it is nice that he gave a little criteria. alix: higher share prices, and you got to be able to fire people. sonali: that's true. you have to have a really strong stomach here because this would require a lot of job cuts. that's what kept deutsche bank and commerzbank from merging in the first place. alix: steve schwarzman spoke to david rubenstein. that will be airing on later today. here's what he talked about in terms of taking the firm public. >> in 2007, you decide, maybe you should take the firm public. it is a private company. why take the firm public? >> i took it public for a lot of different reasons. i had a sixth sense that something terrible was going to happen in the environment. money was so available, money was cheap. everybody was doing things. prices were crazy. i just had a sense this was going to come to a bad ending, and we should have a lot of capital to make sure w
there were talks about potentially merging with softbank. that said, it is easier said than done. people have been waiting for m&a in europe for a long time. it is really hard to merge these banks. it is nice that he gave a little criteria. alix: higher share prices, and you got to be able to fire people. sonali: that's true. you have to have a really strong stomach here because this would require a lot of job cuts. that's what kept deutsche bank and commerzbank from merging in the first...
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Nov 13, 2019
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softbank had the share prices move. it had an ipo of one of the companies they invested in being delayed. this is the planning of its first listed in 2018. -- first bond listed in 2018. juliette: i think it's time for the stock of the hour. looking atave been one of the companies in the semi-conduct he space test semi-conductor spaces. rishaad: semi-conductor manufacturing, the deal number is up 6%. the highest estimates. this is the company which operates the founder. the hong kong listed this, the company provided technology services. it has a third-quarter net income of $115 million. million asing at 48 the medium-range with the top call on this. it was 102 million. million gross 115 margins, including for the fourth quarter. 25%.20 5% -- 23%-2 you canie you that glimpse this with the stocks of interested a by going to the semi conductor. 567% more shares changing hands there. on the way up, 6%. let's put this in context. the market is showing serious distress in hong kong. ofnghai is seeing a bit improvement. certai
softbank had the share prices move. it had an ipo of one of the companies they invested in being delayed. this is the planning of its first listed in 2018. -- first bond listed in 2018. juliette: i think it's time for the stock of the hour. looking atave been one of the companies in the semi-conduct he space test semi-conductor spaces. rishaad: semi-conductor manufacturing, the deal number is up 6%. the highest estimates. this is the company which operates the founder. the hong kong listed...
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Nov 12, 2019
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alix: because softbank has a stake in sprint. he could leave a lot of money on the table. sonali: he does have this big golden parachute, more than $50 million. alix: he gets paid by the sprint-t-mobile merger first. sonali: right. when the deal was first announced, he was supposed to stay on board. it does seem like the two teams are creating a secession plan that is graceful. alix: somewhat in the softbank landscape. second-story.he basically, a wall street unicorn. what is this, worth $25 billion? sonali: people are taking big stakes in private equity firms. now that private equity firms have become so hotly valued, people are moving to direct lending firms. rush hourte credit rock was create -- rush owl rock was created by executives at blackrock. ,hey did this stakes sale thing sold the stakes. the biggest stakes sale business was recently raised, $9 billion, in the largest ever fund to take stake in firms just like this. alix: interesting, and you mean direct lending firms? sonali: direct lending firms, private equity firms, hedge fund firms. but as we know, the hedg
alix: because softbank has a stake in sprint. he could leave a lot of money on the table. sonali: he does have this big golden parachute, more than $50 million. alix: he gets paid by the sprint-t-mobile merger first. sonali: right. when the deal was first announced, he was supposed to stay on board. it does seem like the two teams are creating a secession plan that is graceful. alix: somewhat in the softbank landscape. second-story.he basically, a wall street unicorn. what is this, worth $25...
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Nov 12, 2019
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john legere has ties to softbank. this comes at the same time as legere is pushing for a merger with sprint, whose owner is also softbank. walk us through the news of today. ellen: as we reported this morning, it seems like he is one of several names up for consideration for a ceo search fo for wework. this is something that has kind of been percolating. again, this may be a sign of softbank pulling the strings. we talked about -- they have a lot of control over wework. they have strong ties over john legere. in an amusing twist, ties with the executive chairman who is a former sprint leader and someone who in the past has sparred publicly at times with john legere over telecom industry beefs they had. one of them even called the other a conman on twitter. it seems like his name is in the ring. kurt: it has been six weeks since newman stepped down. what has been going on at wework on the executive front? ellen: it has been a long six weeks. in late september, there was the upheaval. adam neumann stepped down. we had t
john legere has ties to softbank. this comes at the same time as legere is pushing for a merger with sprint, whose owner is also softbank. walk us through the news of today. ellen: as we reported this morning, it seems like he is one of several names up for consideration for a ceo search fo for wework. this is something that has kind of been percolating. again, this may be a sign of softbank pulling the strings. we talked about -- they have a lot of control over wework. they have strong ties...